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A Stochastic Simulation Analysis of a Small-Scale Catfish Processing Plant

Published online by Cambridge University Press:  28 April 2015

William Branch  and
Daniel S. Tilley
William Branch
Affiliation:
Department of Agricultural Economics at Oklahoma State University
Daniel S. Tilley
Affiliation:
Department of Agricultural Economics at Oklahoma State University
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Abstract

Stochastic simulation was used to analyze revenues and costs for a small-scale catfish processing plant under various combinations of operating capacity utilization and price paid for live fish. The probability for a positive level of daily net income ranged from 11 to 100 percent depending on the price paid for live fish and level of operating capacity utilized. Daily average total cost per pound of live fish processed changed by 2.10 percent given a 10 percent change in live fish processed. Short-term cyclical patterns in revenues and costs suggest a need for financial planning to provide for possible year-end revenue shortfalls.

Keywords

stochastic simulationcatfish processing
Type
Articles
Information
Journal of Agricultural and Applied Economics , Volume 24 , Issue 2 , December 1992 , pp. 183 - 196
Copyright
Copyright © Southern Agricultural Economics Association 1992

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